Control of financial services of Islamic windows in the bank

Federal Law 417-FZ entered into force in 2023 in Russia, which opened the opportunity for banks to operate in accordance with the norms of Islamic law. The practice of international financial markets has shown that Islamic windows in commercial banks, whose basis is interest rate transactions, are able to harmoniously coexist with the traditional banking system, despite their complete conceptual difference from the practice of usury. This, in turn, gave rise to a number of theoretical issues that remain poorly studied in Russian science. One of these issues is the lack of a clearly developed methodology for assessing the products offered in Islamic windows of commercial banks. The main objective of this article is to develop an approach to monitoring and assessing individual financial services provided by Islamic windows of commercial banks. The study proposed key areas for assessing these products. It also identified the most important indicators that must be taken into account when checking their compliance with the requirements of Islamic law, which is a critical aspect for ensuring their legality and competitiveness.